Hygon lists on Shanghai's STAR Market, opening 94% above its IPO price

Hygon

Hygon began trading on Shanghai's STAR Market at an issue price of 36 yuan and opened at 70 yuan, valuing it at about 158 billion yuan in early trading. It raised about 9.1 billion yuan, earmarked for next-generation processors and research centres. It sold x86 server CPUs and its first DCU accelerators to banks, energy and telecom customers.

• Issue price 36 yuan; opened at 70 yuan (+94%).
• Market value about 158 billion yuan on day one; about 9.15 billion yuan raised.
• Revenue grew from 379M yuan (2019) to 2.31B yuan (2021); 2021 was its first profitable year.
• About 90% of its roughly 1,140 staff worked in R&D.